Sensex eases 13 points in late morning trade

The S&P BSE benchmark Sensex washed out initial gains by slipping 13 points in late morning session on Friday due to fresh selling pressure in metal, power, PSU, auto and banking counters.

The BSE-30 share index, Sensex, opened higher at 19,399.55 points and moved up further to a high of 19,451.70 on initial buying mainly in consumer durables, IT, tech and refinery sectors following government’s decision to relax foreign direct investment (FDI) rules in a number of sectors.

However, it declined afterwards to 19,296.10 before quoting 19,304.57 points at 1030 hours.

It showed a loss of 12.62 points or 0.07 per cent from its last close.

The NSE 50-share index Nifty also moved down by 14.05 points, or 0.25 per cent, to 5,713.80 at 1030 hours.